If Nama is just a State-aid to banks - will the EU/other banks not quash it?

[Delusional or careerist?]

5 quick points
1. Nama will give a valuation for an asset which a bank owns of 30% less than book value.
2. Then add 7bn to the total.
3. Judge Peter Kelly says commercial property is 70% off peak.
4 EU competition law, non-distortion of single markets and ecb dictats (see Spanish and Dutch banks) say saying over the odds cannot be done as it is a State Aid.

My questions:
If the above are correct, does that not mean that Nama is doomed?
Will The State end up owning some/all of the banks, however temporarily?
Has anyone or any bank objected to nama as a state aid yet?
If Nama legislation is to take until January, is it Lenny's game to get us to September?
Will the markets not make up their own mind in the interim?

[atlantic]

Nama is a scam job.It gets the government and banks out off hole,while they shaft the people with debt.The banksters will not be lending money to business they will hoard ,or take the safe bet buying government debt,shafting the people twice.Nama is rottten, disgusting ,and economic treason.

5 quick points
1. Nama will give a valuation for an asset which a bank owns of 30% less than book value.
2. Then add 7bn to the total.
3. Judge Peter Kelly says commercial property is 70% off peak.
4 EU competition law, non-distortion of single markets and ecb dictats (see Spanish and Dutch banks) say saying over the odds cannot be done as it is a State Aid.

My questions:
If the above are correct, does that not mean that Nama is doomed?
Will The State end up owning some/all of the banks, however temporarily?
Has anyone or any bank objected to nama as a state aid yet?
If Nama legislation is to take until January, is it Lenny's game to get us to September?
Will the markets not make up their own mind in the interim?

[Delusional or careerist?]

everyone -especially those in favour of it - knows nama is treachery, but I want to know can or will the EU stop it as a stateaid?

[goosebump]

All banks, domestic or foreign, can participate in NAMA, therefore it does not constitute state aid.

Next?

[HarshBuzz]

All banks, domestic or foreign, can participate in NAMA, therefore it does not constitute state aid.

Next?

are all banks, foreign and domestic, eligible for State recapitalisation at the same time?

[Digout]

SCAMA is a fraud on a massive scale, check out McWilliams article from last Sunday.

Banks leave SMEs high and dry | David McWilliams

[Dreaded_Estate]

All banks, domestic or foreign, can participate in NAMA, therefore it does not constitute state aid.

Next?

That only gets around the unfair competition rules goosebump.

The state aid issue is separate and Europe seems to be getting tougher than many had expected on state aid.

since the Irish plan is the most shareholder friendly deal out there the Irish bank have suffered the most in the last few days.

[goosebump]

That only gets around the unfair competition rules goosebump.

How EU law is applied - State aid

State Aids are part of competition law, not separate to it.

[HarshBuzz]

since the Irish plan is the most shareholder friendly deal out there the Irish bank have suffered the most in the last few days.

indeed, BoI is 50% down since the start of October

Neelie Kroes may just be about to become the most single important influence on the Irish economy

[goosebump]

are all banks, foreign and domestic, eligible for State recapitalisation at the same time?

Yes, but NAMA only holds appeal for banks that are grossly undercapitalised.